Iran plans to triple petrochemical output by next 10 years
Baku, Azerbaijan, Mar. 7
By Fatih Karimov - Trend: Iran plans to triple its petrochemical output by the next 10 years.
Mohammad Hossein Peivandi, deputy director of the National Iranian Petrochemical Company, said that the country's petrochemical output will be increased to 180 million metric tons if the required financial resources are provided, Iran's Shana news agency reported on March 7.
If the goal is achieved, Iran will surpass Saudi Arabia in petrochemical industry by 2021, he said.
The roadmap for the development of the petrochemical industry has envisaged as much as $35 billion investment, he said, adding that Iran's petrochemical sales have grown by 36 folds over the past 25 years.
Marzieh Shahdaee, director of the National Iranian Petrochemical Company's plans, said on Feb. 24 that 15 new petrochemical units will be inaugurated by Iranian fiscal year 1395 (March 2016-March 2017).
He added that the new units will boost the country's petrochemical capacity by 8.5 million metric tons.
"There are 60 petrochemical plans underway in the country, with one percent to ninety-nine percent completion," she noted.
Iranian Deputy Oil Minister Abbas Sheri-Moqaddam said on Feb. 2 that the country's petrochemical output will increase by 7.1 million metric tons in the next year.
If the international sanctions on the country's petrochemical and banking sectors are removed, the country's petrochemical output will increase from 60 million metric tons to 100 million metric tons by the end of the sixth five-year development plan (2020), he said.